Alberta’s 2017-18 provincial budget follows through on the significant tax changes implemented in last year’s budget by the Notley government.
No new taxes were introduced in Budget 2017 and no tax adjustments were announced.
As announced last year, gasoline and other fuel prices will increase by 6.73 cents/litre on January 1, 2018. The carbon levy generated $230 million in revenue for 2016-17 and is forecasted to generate $1.03 Billion in 2017-18, the first full year of implementation.
Alberta’s small business tax was reduced from 3 percent to 2 percent on January 1, 2017 to help small businesses deal with increased costs associated with the carbon levy.
RCC will be closely monitoring the impact that the carbon levy and other increasing costs are having both on consumer spending and on your bottom line. RCC will also share our concerns with Minister Ceci that should oil prices be lower than forecasted, Alberta’s plan to return to a surplus position without further tax increases may be very difficult to achieve.
To view the 2017 Alberta budget papers, click here: http://alberta.ca/Budget.cfm
If you have any questions or concerns, please don’t hesitate to contact: Lanny McInnes, Director Government Relations (Prairies) at: [email protected] or 204-253-1654